On average, California’s public sector workers are more highly educated. Of full-time workers, 55% hold a four-year college degree in the public sector compared to 35% in the private sector. Educational attainment is the single most important predictor of earnings—thus it plays a vital role in this analysis. On average, California state and local governments pay college-educated labor less than private employers. The earnings differential is greatest for professional employees, lawyers and doctors. On the other hand, the public sector appears to set a floor on compensation. The earnings of those with a high school degree or less is higher in state and local government than it is for similar workers in the private sector. There are other significant personnel differences between the public and private sector workforces. The age (median) of a typical worker in state and local government is 44 compared to 40 in the private sector. Furthermore, the state and local government workforce has more women (55%) compared to the private sector (40%).
Comprehensive NIPA revisions differ from annual NIPA revisions primarily because of the scope of the changes. Comprehensive revisions typically incorporate three major types of improvements: (1) changes in definitions and classifications that update the accounts to more accurately portray the evolving U.S. economy and to provide for consistent comparisons with data for the economies of other nations, (2) statistical changes that update the accounts to reflect the introduction of new and improved methodologies and the incorporation of newly available and revised source data, and (3) changes in presentations that update the NIPA tables to reflect the changes in definitions and the statistical changes and to make the tables more informative. Comprehensive revisions are usually conducted at 5-year intervals that correspond with the integration of updated statistics from BEA’s quinquennial benchmark input-output accounts.
<div style=”margin-bottom:5px”> <strong> <a href=”http://www.slideshare.net/LuisTaverasMBAMS/preview-of-the-2013-comprehensive-revision-of-the-national-income-and-product-accounts” title=”Preview of the 2013 Comprehensive Revision of the National Income and Product Accounts” target=”_blank”>Preview of the 2013 Comprehensive Revision of the National Income and Product Accounts</a> </strong> from <strong><a href=”http://www.slideshare.net/LuisTaverasMBAMS” target=”_blank”>Luis Taveras MBA, MS</a></strong> </div>
The cost of health insurance for New York City public employees and retirees has more than doubled in the last ten years, and its continued growth will be a major driver of projected budget gaps. While the total city budget is projected to grow 11 percent from fiscal years 2012 to 2016, health insurance costs will grow by almost 40 percent and comprise 70 percent of the projected budget gap in 2016. Currently, more than 90 percent of the municipal workforce is enrolled in health insurance plans that require no employee contribution toward the cost of the premium for basic individual and family coverage. The City continues to pay the full cost for employees and their families if they retire before the age of 65. When they enroll in Medicare at age 65, retirees are reimbursed by the City for the full cost of the Part B premiums.
<div style=”margin-bottom:5px”> <strong> <a href=”http://www.slideshare.net/LuisTaverasMBAMS/report-his-01282013″ title=”Health Insurance Premium-Sharing by Employees and Retirees in the Public Sector” target=”_blank”>Health Insurance Premium-Sharing by Employees and Retirees in the Public Sector</a> </strong> from <strong><a href=”http://www.slideshare.net/LuisTaverasMBAMS” target=”_blank”>Luis Taveras MBA, MS</a></strong> </div>